Venezuela Pay Squeeze Knocks Global Wage Growth Into Perspective

If think your pay raise is lousy, consider the workers of Venezuela. Parts of Latin America will see the worst hit to real wages as inflation outpaces salary growth, according to data from global human resource departments compiled by advisory firm Korn Ferry Hay Group Ltd.In Argentina, people can expect to see a 28.5 percent headline raise wiped out by an inflation rate of 41 percent, pushing real wages down 12.5 percent, the projections show. The biggest pain comes in Venezuela, where price growth of 485 percent compares with nominal salary gains for 111 percent. Excluding Venezuela and Argentina, real wages in the region will rise 1.1 percent in 2017. More…